Exactly how long did the Great Depression last? As I recall, it basically didn’t end until 1945, but if you go by GDP it ended in 1933.
What exactly is up with this?
Exactly how long did the Great Depression last? As I recall, it basically didn’t end until 1945, but if you go by GDP it ended in 1933.
What exactly is up with this?
Read Robert Higgs on this.
A lot of people point to the rapid GDP growth as a way of showing that the New Deal did work. I am currently working on an article to disprove this fallacy, as well as a few others.
It’s easy to increase GDP through deficit spending.
Please make a new thread on it with a link when its ready ![]()
I have read that unemployment didn’t go under double digits from…1932 to 1941 or something.
Higgs covers the “WW2 stopped the Depression!” fallacy, not the “New Deal rescued the economy, look at the unemployment/GDP rise!” fallacy.
EDIT:
Here is the full topic of stuff:
http://www.twcenter.net/forums/showthread.php?t=349843&page=7